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2019-01-09 10:30:04

USB

U.S. Bancorp

$47.02

0.12 (0.26%)

10:30

01/09/19

01/09

10:30

01/09/19

10:30

Put spreads in US Bancorp for a second time in three days

Put spreads in US Bancorp for a second time in three days. Shares up 22c to $47.13 and 3K Jan 11th 46 - Jan 18th 46 put spreads bought for 33c. The one-week time spread probably rolls long Jan 11th 46 puts opened for 27c Monday, which rolled out of 3K Jan 11th 44 puts (they also bought 3K Jan 45.5 puts). Now a new position in Jan 46 puts opened for 43c today and the adjustment (leaving them long both the Jan 45.5 and Jan 46 puts) expresses concerns about losses in shares through the end of next week.

16

Jan

28

May

USBU.S. Bancorp

$47.02

0.12 (0.26%)

11/27/18

11/27/18DOWNGRADE

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hormel Foods (HRL) downgraded to Hold from Buy at Jefferies with analyst Akshay Jagdale citing valuation. 2. Wyndham Hotels & Resorts (WH) downgraded to Buy from Conviction Buy at Goldman Sachs while Wyndham Destinations (WYND) was downgraded to Neutral from Buy. 3. U.S. Bancorp (USB) downgraded to Hold from Buy at Deutsche Bank with analyst Matthew O'Connor citing valuation. 4. Macerich (MAC) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Richard Hill saying he believes the market is underappreciating the company's free cash flow declines in 2019 and 2020. 5. Athenahealth (ATHN) downgraded to Market Perform from Outperform at Wells Fargo with analyst Jamie Stockton saying he suspects a proxy will come out in the next week or two detailing the full process since June to try to sell the company, which ultimately resulted in Veritas Capital and Elliott Management making a $135 all-cash offer on November 12. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

01/04/19

OPCO

01/04/19NO CHANGEOPCOOutperform

Oppenheimer sees 'poor' quarter for banks' capital markets businesses

Oppenheimer analyst Chris Kotowski previewed the Q4 outlook for financial institutions, telling investors in a research note that the significant market volatility in December suggests a poor quarter for the banks' capital markets businesses which are likely to persist into 1H19, adding that the weaker equity markets will likely limit ECM revenues. Kotowski says he believes the less banks pay for their shares in the current market turmoil, the more the stocks are worth in the long run. He continue to recommend Bank of America (BAC), Citi (C), CIT Group (CIT), Goldman Sachs (GS), Morgan Stanley (MS) and US Bancorp (USB).

01/08/19

JEFF

01/08/19DOWNGRADETarget $110JEFFHold

JPMorgan downgraded to Hold from Buy at Jefferies

Jefferies analyst Ken Usdin downgraded JPMorgan (JPM) to Hold from Buy and lowered his price target on the stock to $110 from $130, as he believes continued outperformance of the best performer among large cap banks in 2018 "may be more governed" in 2019 as he expects negative EPS revisions and believes that revenues could fall short of consensus expectations for both NII and fees. Among large cap banks, Usdin also downgraded SunTrust (STI) and U.S. Bancorp (USB), both to Hold, this morning.

01/08/19

JEFF

01/08/19DOWNGRADETarget $51JEFFHold

U.S. Bancorp downgraded to Hold from Buy at Jefferies

Jefferies analyst Ken Usdin downgraded U.S. Bancorp (USB) to Hold from Buy and lowered his price target on the stock to $51 from $60 as he believes the company's higher premium, currently at its widest over the last five years, reflects the perception that the bank's profitability will hold up better than peers in any downturn. While he sees somewhat limited downside EPS revision risk for U.S. Bancorp, Usdin believes the stock is already reflecting this, he tells investors. Among large cap banks, Usdin also downgraded JPMorgan (JPM) and SunTrust (STI), both to Hold, this morning.